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Wimba Closes $8.4 Million Financing From Education-Focused Investor

Funding Accelerates Company's Leadership Position

NEW YORK, NY--(Marketwire - November 6, 2007) - Wimba, the education technology company that
helps people teach people, announced today that it has closed a $8.4
million Series B venture capital financing led by Ascend Venture Group LLC,
a leading investor with a focus on education concerns and applied
technology.

The new funds will be used to accelerate the company's sales and marketing
capabilities throughout the world and to expand development of Wimba
Collaboration Suite, the industry's most comprehensive collaborative
software suite for higher education, K-12, and educational publishing.

In connection with the investment, Kylie Sachs, a partner at Ascend Venture
Group who focuses on investment opportunities in education concerns, among
other areas, will become a member of Wimba's board of directors. Sachs also
serves as a director of Printroom.com, Inc., Boxxet, Inc. and Tutor.com; is
an observer to the NextMedium, Inc. and Retention Education, Inc. boards of
directors; and is a director on the board of trustees of Literacy, Inc.

"Ascend invests in companies that have the capabilities to transform the
education industry. Wimba is clearly transforming teaching and learning
with its multi-modal suite approach," said Sachs. "We believe Wimba has the
sustainable competitive advantage to accelerate and expand its market
leadership in the emerging collaborative learning software market. We're
looking forward to working with the team at Wimba to capture the
opportunity in front of them."

"Ascend Ventures brings substantial domain expertise in education concerns
and an outstanding track record of helping their portfolio companies to
succeed," said Tommaso Trionfi, chief executive officer of Wimba. "Their
investment is a gratifying endorsement of our market success, vision and
execution. We are looking forward to working closely with them to leverage
their expertise, resources and relationships to accelerate our growth."

About Wimba

Wimba is a company focused solely on education and dedicated to the
principle that people learn more when they are drawn closer together. Our
collaborative software applications for the online education market enable
institutions to bridge technology and pedagogy by supplementing course
management systems with many of the proven disciplines of in-person
learning environments. Wimba's intuitive solutions enable educators and
students to quickly and easily teach and learn live online, engage in live
chat and instant message exchanges, benefit from oral content being added
to text-based course content, and more. Instructors can also use Wimba
solutions to convert Microsoft Word documents into accessible course
content and to create and administer tests, quizzes, and exams. Our focus
on education and collaboration with educators fuels our product
development.